Federal Financial Institutions Examination Council
|For Immediate Release||May 29, 2009|
The State Liaison Committee of the Federal Financial Institutions Examination Council announced today the re-election of John Munn as its Chairman. Munn is the Director of the Nebraska Department of Banking and Finance, where he has served since January 2005. The Department supervises state-chartered financial institutions, registered and licensed financial entities including mortgage banking, delayed deposit service companies, and the securities industry in Nebraska. In 2008, Nebraska was one of the first seven states to participate in the Nationwide Mortgage Licensing System created by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators.
John Munn was first elected Chairman of the State Liaison Committee (SLC) in February 2008. Munn has also served on the boards of the CSBS, and the Education Foundation of the State Bank Supervisors. Munn is a graduate of Nebraska Wesleyan University where he earned a B.A. in Education, the Colorado Graduate School of Banking, and the American Bankers Association Trust School.
The SLC was established by the Council pursuant to Section 1007 of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 to encourage the application of uniform examination principles and standards by state and federal agencies, and to allow state regulators to participate in the development of those principles and standards. The Financial Services Regulatory Relief Act of 2006 made the Chairman of the SLC a voting member of the Council. The SLC consists of five representatives of state regulatory agencies that supervise financial institutions whose membership currently includes: Douglas Foster, Commissioner, Texas Department of Savings and Mortgage Lending; Harold Feeney, Commissioner, Texas Credit Union; Sarah Bloom Raskin, Commissioner, Maryland Office of Financial Regulation; and Charles Vice, Commissioner, Kentucky Department of Financial Institutions.
Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, Office of the Comptroller of the Currency, Office of Thrift Supervision, State Liaison Committee